NNPC ‘banked over N50 billion in TSA breach’

NNPC Group Managing Director (GMD), Mr. Maikanti Baru, to appear before its ad hoc committee probing implementation of the policy next week Wednesday   • Reps summon GMD, CEOs, seek evidence ‘Buhari approved non-compliance’ The House of Representatives yesterday uncovered how the Nigeria National Petroleum Corporation (NNPC) flouted the Treasury Single Account (TSA) policy by […]

Nigeria’s crude oil suffers setback as more traders opt for U.S. blend

Nigeria’s crude oil is under serious pressure at the international market, as Asian refiners have increasingly been moving away from their usual favourite, frequently opting for United State (U.S) crude oil, the Organisation of the Petroleum Exporting Countries (OPEC) has said. Besides, Nigeria’s crude oil production declined by 54,200 barrels per day (bpd) from the […]

Federal Government targets N3.6 trillion investments in oil, gas infrastructure

The Minister of State for Pretroleum Resources Emmanuel Ibe Kachikwu PHOTO: TWITTER/NNPC Federal Government has renewed its commitment to attract over $10 billion (N3.6 trillion) to the Niger Delta between 2017 and 2019 through investments in infrastructure. The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, who made the disclosure at the graduation ceremony […]

Why Federal Government shifted focus to modular refineries, by Ibe Kachikwu

Represented by the Permanent Secretary, Ministry of Petroleum Resources, Dr. Folasade Yemi-Esan, hesaid:  “One of the major policy thrust of the present administration is the development and engagement of local content. • Senate panel seeks expansion of local content act beyond oil, gas • NGPTC attributes N15.81b profit to transformation  The Federal Government’s focus on modular […]

Nigeria earns N362.43bn from crude oil export in July

Nigeria’s crude oil earning increased from the N253.02billion in June, to N362.43billion in July, according to the National Bureau of Statistics (NBS).     • Stakeholders identify setbacks in new PIGB Nigeria’s crude oil earning increased from the N253.02billion in June, to N362.43billion in July, according to the National Bureau of Statistics (NBS). This comes […]

SEC, Oando get 14-day ultimatum to resolve alleged N799b shareholders’ liabilities

The House of Representatives Committee on Capital Market and other Institutions has issued the Securities and Exchange Commission (SEC) and Oando Plc a two-week ultimatum to resolve all lingering issues bordering on the N799 billion stakeholders’ liabilities. During a meeting yesterday in Abuja with officials of the two organisations and some aggrieved shareholders of the […]